Fun

News Feed - 2023-10-16 10:10:10

Gareth Jenkinson10 hours agoTether freezes $873K in USDT linked to terrorist activity in Ukraine, IsraelThe stablecoin issuer freezes addresses containing $873,000 USDT linked to illicit activity in Israel and Ukraine.7606 Total views54 Total sharesListen to article 0:00NewsJoin us on social networksStablecoin issuer Tether has moved to freeze 32 addresses linked to terrorist activity in Israel and Ukraine in collaboration with local law enforcement agencies.


$873,118 worth of Tether (USDT) linked to illicit activity in Israel and Ukraine have been frozen, according to an announcement from the company. The action was taken in collaboration with Israel’s National Bureau for Counter Terror Financing.


Paolo Ardoino, who was appointed as Tether’s CEO in October, highlighted the fact that cryptocurrency transactions are easily traced on blockchain platforms, enabling Tether to assist in blocking the use of USDT linked to terrorist funding:“Contrary to popular belief, cryptocurrency transactions are not anonymous; they are the most traceable and trackable assets."


The CEO added that the stablecoin issuer is actively working with global law enforcement agencies to track and trace the illicit movement of funds and, where possible, freeze assets linked to criminal and terrorist activity.


In late 2022, Tether had frozen over $360 million in assets. The company subsequently reissued over $100 million of USDT that had been intercepted. 


Related: Tether stablecoin loans rise in 2023 despite downsizing announcement in 2022


The company now estimates it has frozen a total of $835 million in USDT, mainly associated with blockchain and cryptocurrency exchange hacks. Tether has worked with 32 countries worldwide to address illicit cyber activity involving its dollar-backed stablecoin. 


In June 2023, Israel’s defense minister, Yoav Gallant, announced that the country had seized cryptocurrency wallets containing millions of dollars transferred to the Lebanese militant group Hezbollah.


Using Chainalysis’ blockchain analysis tools, over $1.7 million of cryptocurrency was seized in the operation.


Meanwhile, blockchain data indicates that cybercriminals have moved away from using Bitcoin (BTC) to transfer value over the internet, preferring to use stablecoins and altcoins due to their accessibility and ability to be laundered through decentralized exchanges.


Magazine: Beyond crypto: Zero-knowledge proofs show potential from voting to finance# Blockchain# Cybercrime# Terrorism# Crimes# Tether# Counter Terrorism FinancingAdd reactionAdd reactionRead moreHow to track and report crypto transactions for tax purposesOKX exec says KYC will ‘raise the bar,’ bring real capital into crypto: Blockchain Economy Dubai 2023How to build a DApp on Ethereum

News Feed

Solana-Powered Defi Platform Orca Raises $18 Million — AMM Commands Over $300 Million TVL
Solana-Powered Defi Platform Orca Raises $18 Million — AMM Commands Over $300 Million TVL The decentralized exchange (dex) platform Orca has announced the platform has raised $18
21M Bitcoin and the Promise of Scarcity
21M Bitcoin and the Promise of Scarcity In Bitcoin, the promise of a limited supply is great. This was one of the biggest things that initially appealed to me when I heard about Bitcoin. “No mo
Bank of Russia Moves to Safeguard Crypto Companies Against Sanctions
Bank of Russia Moves to Safeguard Crypto Companies Against Sanctions The Central Bank of Russia has introduced measures to protect entities working with digital assets from sanctio
Tom Mitchelhill3 hours agoFed inspector blames crypto focus, nepotism for Silvergate Bank collapseAn investigation into Silvergate Bank found that its collapse was brought about by a dependency on crypto deposits and “
Altcoin Market Decline Reaches Final Act, Bottom Expected In 2025–Analyst
Este artículo también está disponible en español. After enjoying a mini price run in the last week of October, Bitcoin’s price has corrected below $68k to start the fir
Developers Propose Cross-Chain Bridge for XRPL Network to Enhance Blockchain Interoperability
Developers Propose Cross-Chain Bridge for XRPL Network to Enhance Blockchain Interoperability Software engineers and members of the development lab Ripplex want to create a cross-c
Mad Money’s Jim Cramer Wants Crypto Investors to Bet Against Him — ‘I Have Done This for 42 Years’
Mad Money"s Jim Cramer Wants Crypto Investors to Bet Against Him — "I Have Done This for 42 Years" The host of Mad Money, Jim Cramer, has challenged crypto investors to bet again
Societe Generale Forge partners with Bitpanda for euro stablecoin ahead of MiCA
Zoltan Vardai11 hours agoSociete Generale Forge partners with Bitpanda for euro stablecoin ahead of MiCAThe partnership comes shortly ahead of the implementation of the MiCA regulatory framework for crypto service provid
Coinbase finds flawed analysis in SEC's proposed exchange definition
Derek Andersen2 hours agoCoinbase finds flawed analysis in SEC"s proposed exchange definitionIn its third letter to the SEC, the crypto exchange said it would withdraw the proposal, which was first released in 2022, and
USDM stablecoin eyes retail rollout next month: Mehen founder
Brayden Lindrea5 hours agoUSDM stablecoin eyes retail rollout next month: Mehen founderSome industry pundits say USDM has superior properties to USDT and USDC in that it can’t be frozen — but problems could arise if
Ethereum Devs Implement Merge Testnet Kiln, Testing Ground Expected to Be the Last Before PoS Transition
Ethereum Devs Implement Merge Testnet Kiln, Testing Ground Expected to Be the Last Before PoS Transition After implementing the merge testnet Kiln, Ethereum is seemingly getting cl
1 Million Bitcoin In New Whale Hands—A Mega BTC Rally On The Horizon?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu